Presented below is information for Annie Company for the month of March 2018. 
Instructions
(a) Prepare a multiple -step income statement.
(b) Compute the gross profit rate.
Definitions:
Reliability
The extent to which a measure is consistent and free from error, providing similar results under consistent conditions.
IQ Scores
A measure of a person's cognitive abilities and potential, commonly expressed as a score derived from standardized tests designed to assess human intelligence.
Percentage
A mathematical term describing a number or ratio expressed as a fraction of 100.
Standardized Tests
Tests that are administered and scored in a consistent, or "standard," manner and are designed to measure students' comparative performance.
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